His Excellency Saeed Mohammed Al Tayer, Managing Director and CEO of Dubai Electricity and Water Authority, announced today that Abu Dhabi Future Energy Company (Masdar) has chosen the “Best Bidder” to implement the sixth phase of the Mohammed bin Rashid Al Maktoum Solar Park with a capacity of 1800 megawatts using photovoltaic solar panels, according to The Independent Energy Producer System, with investments amounting to about 5.51 billion dirhams.
DEWA was able to obtain the lowest global competitive price of 1.6215 US cents per kWh for this phase. The authority had announced the tender on November 15, 2022, and had received 23 prequalification requests from international developers to implement the project.
His Excellency Al Tayer said: “We seek to achieve the vision of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, may God protect him, to transform Dubai into a global center for clean energy and green economy, and we are working to achieve the goals of the Dubai Clean Energy Strategy 2050, and the carbon neutrality strategy 2050 for the Emirate of Dubai to provide 100% of the total energy production capacity in Dubai from clean energy sources by 2050. To achieve this, DEWA has launched several pioneering projects in the field of renewable energy, including the Mohammed bin Rashid Al Maktoum complex. For solar energy, the largest solar energy complex in one location in the world using the independent energy producer model, and its production capacity will reach 5,000 megawatts by 2030, with investments amounting to 50 billion dirhams.
His Excellency Al Tayer added: “We are keen to complete the phases of the Mohammed bin Rashid Al Maktoum Solar Energy Park in accordance with the highest international standards by using the latest solar energy technologies to promote the transition towards a sustainable green economy by increasing the proportion of renewable and clean energy, indicating that the complex will reduce more than 6.5 million tons of carbon emissions per year.The sixth phase of the complex will be operated using photovoltaic solar panels using the independent power producer model in phases starting from the fourth quarter of 2024.The project documents, the power purchase agreement and the financial closure will be signed soon.The current capacity of the complex is 2,427 megawatts, representing 16.3% of the total energy production capacity in Dubai, and this percentage will reach 24% in 2026 with the completion of the sixth phase and the phases under implementation of the complex.
It is noteworthy that the projects of the Mohammed bin Rashid Al Maktoum Solar Energy Complex, the largest solar energy project in one location in the world, are receiving great interest from international developers, which reflects the confidence of investors in the major projects adopted by the Dubai government, and the authority has attracted huge investments to the state. From the private sector and foreign banks, which led to an increase in cash flows to the economy of Dubai and the UAE. The production capacity of the solar energy projects currently in operation in the complex is 2,427 megawatts, and the authority is working on implementing other projects with a capacity of 433 megawatts.
2023-08-13 06:16:55
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